FinTech

Financial technology, also known as FinTech, is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.

Recently, JP Morgan Chase & Co. issued its annual letter to shareholders, in which Jamie Dimon, the company’s CEO, spoke about Silicon Valley’s startups as new rivals that are “looking to compete with banks.”

A recently published report on the Wall Street Journal claims that some major US’s proprietary trading and investment giants are showing signs of interest in getting their feet soaked in Bitcoin, a move that is already predicted to change drastically the digital currency.